18 Feb 1935
Page 1
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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 18, 1935
Page
1
Washington by Feb 18 reports a sweeping victory for New Deal money policies as Supreme Court abrogates gold clauses in private contracts. Stocks and staples rise on the news while Roosevelt attends to public messages for youth and a related NRA revision.
The House military affairs committee urged a pay-as-you-fight policy to curb war profiteering with price limits and a 100 percent profits tax. It warned against socializing wealth and called for careful analytic finance rather than confiscation. The report also criticized states of war funding and warned about future debt.
Raleigh reports Representative R. Gregg Cherry chairman of the House finance committee forecast the defeat of the McDonald Lumpkin substitute sales tax plan and said a sub committee will study proposals. He expects the $10 sales tax maximum to be re enacted in the revenue bill.
The Supreme Court split five to four holding Congress may regulate currency and voids private and government gold obligations. It denies redress in the court of claims for holders of federal bonds and gold certificates seeking more than face value. Dissent argues constitutionality erased.
New York stocks and commodities rose on news of Supreme Court gold decisions. Share prices jumped to as high as 9 a share on the exchange as trading in wheat spiked and was briefly suspended. Market interpretation of the ruling caused initial confusion about gold obligations and bonds.
Luke Lea former U S senator from Tennessee resumes duties as record brookkeeper and assistant in the state prison hospital in Raleigh after furlough to attend his mother's funeral in Nashville. He returned under guard late yesterday.
Granite Oklahoma February 18 eighteen desperate convicts at large after a wholesale break from the state reformatory. Women and children used as shields and a guard shot to death. Thirteen others remained in custody after the breakout. Mrs George A Waterstone praised for heroism as she investigated pistols smuggled to ringleaders. Sheriff posses scoured the area while farmers guarded homes and highways were blocked.
Monica California February 17 report notes Mr Townsend testifying before a senate committee where members joke about his pension idea while acknowledging the nation already pays old age support. The piece recalls past schemes like a poor farm and suggests Townsend may accept a reduced share of his proposal as lawmakers insist on funding pensions.
In Winston-Salem on February 18, the Reynolds siblings filed a reply to Mrs. Cannon’s response in the Smith Reynolds tobacco estate litigation. They ask the court to accept their proposed settlement and avoid deciding the existing issues, or allow withdrawal and remand to legal rights. they insist the proposal should be accepted if the court has jurisdiction.
A bold thief bound three theater officials at the Roxy on Seventh Avenue and 50th Street just after midnight, escaping with cash estimated between 11000 and 16000.
In Rocky Mount a hit-and-run driver fatally struck Mrs. Vann Batchelor 65 and her son William Batchelor 28 as they stood beside a stalled automobile. Police sought to identify the vehicle and driver.
Raleigh reports major issues this week include taxes under the McDonald Lumpkin plan and an anticipated revenue bill delay. The appropriations panel debates school funding with calls for 22 million, while the liquor control bill faces a senate hearing and organized opposition from dry forces. The house plans to act on drivers license reform and highway funding. The senate may address slot machine outlawing bills as well.
Charles Smith Honea Path policeman and Robert Calvert special deputy pleaded not guilty when called to trial on a murder charge in the slaying of seven textile strikers at Honea Path last September. The docket includes other AP briefs from across the nation.
Bruno Hauptmann read and smoked in his Jersey jail cell as his defense team prepared an appeal. Frederick A. Pope said he would seek a Supreme Court ruling to cover printing expenses for the appeal.
Berlin reports Baroness Renate Von Natzmer and Frau Benita Von Falkenhagen were beheaded today for espionage. The executions were carried out by guillotine in a wartime justice action.
At Innsbruck today reports say Italian forces are massing near the Brenner Pass with reinforcements noted around Feb. 12. Observers tie the activity to last year’s Austrian socialist unrest and possible disorder by socialists or communists.
Partly cloudy to night and Tuesday with slight warming in western areas. Winds from Sandy Hook to Hatteras are fresh to strong and southwest, with overcast conditions tonight and Tuesday. Charlotte AP reports weather bureau records of temperature and rainfall for the 24 hours ending at dawn in key cotton regions and beyond.
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